Market commentary

A turbulent December 2025 quarter saw the ASX200 close lower amid sector rotation from technology to resources, persistent inflation, and shifting interest rate expectations.

The Australian share market rose modestly over the September 2025 quarter, supported by strength in financials, healthcare, and resources, while inflation concerns, interest rate uncertainty, and stretched valuations tempered the outlook.

The Australian share market delivered a strong 8.9% gain for the June 2025 quarter despite April volatility driven by global trade tensions, supported by the RBA’s second rate cut of the cycle as inflation remained within target.

The March 2025 quarter was shaped by global trade policy uncertainty and domestic interest rate shifts, with Australian equities declining amid market volatility while income-generating credit assets continued to deliver stable returns.

Australian equities declined modestly over the December 2024 quarter as domestic economic growth slowed and inflation showed signs of moderating, while international uncertainty surrounding US political developments and Chinese economic conditions added to market volatility.

Australian equities delivered their strongest September quarter in over a decade, driven by improving interest rate clarity, Chinese economic stimulus, and a US rate cut, despite a brief sharp market sell-off triggered by US recession fears.

Australian equities delivered their strongest September quarter in over a decade, driven by improving interest rate clarity, Chinese economic stimulus, and a US rate cut, despite a brief sharp market sell-off triggered by US recession fears.

In the June quarter the ASX200 run faltered recording a fall of 129 points or 1.6% closing at 7,768. The market traded sideways over the volatile period fluctuating within a 400-point range as the market seeks greater certainty.

Australian equity markets rose 4% in the March 2024 quarter as the RBA held rates steady, with portfolio activity centred on income fund capital raisings, selective equity purchases, and cash management ahead of future opportunities.

Australian equities rose 4% in the March quarter despite falling corporate profits, stretched valuations, and an uncertain economic outlook, while income holdings continued to deliver consistent returns amid expectations of higher rates for longer.

Australian equities rose over 7% in the December quarter, with a conservatively positioned portfolio delivering above-market returns through a combination of equity gains and consistent income from fixed interest holdings, while cash reserves were maintained for future opportunities.

Australian equities rose over 7% in the December quarter as markets anticipated an end to rate rises, though inflation remains persistent and the economic outlook uncertain, with portfolios favouring capital protection while income holdings continued to perform consistently.